Chapter 6

Accounting Measurement Systems

GROUP 4

Puput Purnamasary Naufal

Theobaldo Wilyantara

Salman Alfaridzi

Ahmad Rizal Tawakkal

 three main income and capital measurement system

O
L B The historical cost

E J Current cost accounting

A E
R C Financial capital vs physical capital

N T
Exit price accounting
I I
N V value is use and value in exchange

G E Perspektif Global Dan International Financial Reporting

Standards
S
Issues for auditor
three main income and capital
measurement system

Historical Cost Accounting

Current Cost

Current Selling Price

 Historical Cost Accounting

Objective of
Accounting
a conservative 'contractual' relationship
between a firm and those who provide
resources to it by making management
accountable for the input of assets to operations
and the subsequent outputs on the net value of
equity from operations
 Historical Cost Accounting

Capital and
Profit
Paton and Littleton says computing a residuum, a
balance, the difference between costs (as efforts) and
revenues (as accomplishments) for individual
enterprises

the accountant must decide which costs have

'expired' and therefore are to be matched
Matching Cost against income in the income statement, and
which costs remain 'unexpired' and are to be
placed on the balance sheet as the residual
(unmatched assets).
Expenses should be allocated as soon as
Convartism possible, while revenues should not be
recognised until there is a high probability that
they will be received
 Historical Cost Accounting

Arguments

Relevant

The best understood

concept of profit
Actual

Guard the integrity

of Data
Useful
 Historical Cost Accounting

Critism
The history of accounting reveals that another role of accounting is to
meet the decision-making needs of users. In turn, a decision-usefulness
approach calls for a 'forward-looking' position rather than a
preoccupation with the past.

Investors are also interested in knowing about the increases or

decreases in the value of their investments as represented by the net
assets of the company

that the historical cost system is far from objective and is

open to manipulation
 Current Cost Accounting

Objective of
Accounting
an accounting system in which assets are valued at
current market buying prices and profit is
determined by allocation based on current costs

Edwards and Bell

What amount of assets should be held at any particular time?

What should be the form of these assets?
How should the assets be financed?
 Current Cost Accounting

Concept of Business
Profit and Financial
Capital
BUSINESS PROFIT by Edwards and Bell

Current operating profit : excess of the current value of

the output sold over the current cost of the related inputs

Realisable cost savings : increase in the current cost of the

assets held by the firm in the current period
 Current Cost Accounting

Holding Gain and

Losses
Business profit is that mixing holding
gains/losses and operating gains/losses confuses the
evaluation of management decisions and hinders the
allocation of resources in the economy, The concept
of business profit allows the separation of these
components.
 Financial Capital and Physical
Capital
In Support of Physical
Capital
Pendukung physical capital concept berpendapat bahwa capital adalah
unit fisik yang menunjukkan kemampuan operasi perusahaan
 Financial Capital and Physical
Capital
awalnya perusahaan memiliki 100 unit maka seharusnya harus mampu
membeli 100 unit pada akhir periode. Ketika harga unit naik sebesar $2 per
unit, perusahaan membutuhkan tambahan sebesar $200 pada akhir periode
untuk mempertahankan kemampuan operasionalnya. Sehingga, $200
bukanlah merupakan holding gain, tetapi penyesuaian terhadap
pemeliharaan modal (capital maintenance adjustment). Analisis tersebut
dapat diilustrasikan sebagai berikut:
Financial Capital and Physical
Capital

Major Features of The Physical Capacity System Capital

Maintenance

Valuation Principles :
1) Non-monetary Items
2) Monetary Items and Loan Capital
3) Non-Monetary Assets Bought and Sold on The Same
Market
Financial Capital and Physical
Capital
Argument for and
againts current asssets
Recognition Principle

Objectivity of Current Cost

Technological Change
 Financial Capital and Physical
Capital
More Specific Critism

Advocates of Historical Cost

Comparison on the Result with Historical Cost

Advocates of Exit Price

 Exit Price Accounting

Income and Capital

Terdapat dua perbedaan yang mendasar dengan
perhitungan historical cost pada akuntansi:
1) Nilai dari aset non moneter yang disesuaikan
berdasarkan harga pasar berfungsi untuk
mengukur aset tersebut dan jika terdapat
income dianggap sebagai unrealized gains.
2) Perubahan dalam kekuatan daya beli uang
secara umum yang dipertimbangkan ketika
mengukur modal keuangan dan hasil dari
operasi
 Exit Price Accounting

Objective of Accounting

Chamber mengakui bahwa setiap aset

yang dimiliki pada prinsipnya adalah
nilai dari pertukaran (exit value) dan
nilai pakai (value in use). Nilai pakai
(Nilai saat ini) pada dasarnya adalah
sejumlah nilai yang dihitung dari
harapan saaat ini, dan hal itu
merupakan keyakinan atas masa
depan, bukan fakta pada saat ini.
 Exit Price Accounting

Arguments for exit price

accounting
Providing useful information

Relevant and reliable information

Additivity

Reality

Allocation

Objectivity

A measure of Risk
Value In Use and Value in Exchange
Pendekatan Value in use menggunakan
investor external atau entitas yang
berorientasi pada produksi sebagai
benchmark yang relevan. Investor lebih
tertarik pada future cash flow perusahaan
dibandingkan nilai likuidasinya yang dapat
diprediksi secara akurat dengan laba
operasional dibandingkan dengan current
cash
Padaflow
pendekatan value in exchange,
sudut pandang lebih kepada manajer
internal atau kreditur yang akan
membuat keputusan yang berkaitan
dengan likuiditas dari perusahaan dan
current spending power yang
merupakan performa jangka pendek
perusahaan
Perspektif Global Dan
International Financial
Reporting Standards
Amerika Serikat

Inggris

Australia

International Accounting Standards

Sistem Pengukuran Campuran dan

Standar Internasional

Sistem Pengukuran Campuran dan

Standar Internasional
 Issues for auditors

Kebutuhan akan bukti yang memadai dan kualitas atas

bukti tersebut mendukung relevansi dan reliabilitas dalam
penyajian data, mendeteksi adanya misstatements, dalam
jurnal, akun, dan pengungkapan entitas

Kebutuhan akan pengetahuan dan pemahaman atas

beberapa metode pengukuran yang dikenal seta
kombinasinya. Oleh karena itu, peran ahli sangat mungkin
untuk dibutuhkan dalam rangka pemeriksaan.

Dalam hal Arm Length Transaction, dibutuhkan bukti-

bukti spesifik transaksi dan informasi pihak ketiga juga
dibutuhkan untuk memastikan setiap transaksi telah
dicatat dan diungkapkan dengan benar.